Payments to Governments

SOCO International plc is an international oil and gas exploration and production company, headquartered in London and traded on the London Stock Exchange. The Company has field development and production interests in Vietnam and exploration and appraisal interests in the Republic of Congo (Brazzaville) and Angola.

Value creation for host countries

A key component of SOCO’s business model is creating value for its host countries through responsibly managed operations and ethical business conduct.

Revenues to governments become payable by the Company due to oil production entitlements, taxes, royalties, licence fees and infrastructure improvements.

Ethical business conduct and transparency

SOCO is committed to transparency as an important aspect of ethical business conduct, and promotes this throughout the Company. SOCO mitigates business conduct risk by ensuring that it has robust and relevant procedures. Annual training and compliance certifications by all associated persons and provision of a whistleblowing facility reinforce SOCO’s Code of Business Conduct and Ethics, which sets out its values of honesty, fairness and promoting trust amongst those with whom the Company works.

SOCO makes annual, audited disclosures of its payments to governments to the Extractive Industries Transparency Initiative (“EITI”) as an EITI Reporting Company in Congo (Brazzaville), where the Company has one offshore asset. SOCO participated in EITI’s validation mechanism for Congo (Brazzaville) leading up to it becoming an EITI Compliant Country.

SOCO was an EITI Reporting Company in Democratic Republic of Congo (Kinshasa) for the periods up until the relinquishment of its licence in the country in the second half of 2015. 

 

Reports

 
 
 
 
 
 
 
 

SOCO is aware of attempts to impersonate the company on social media. SOCO does not use Twitter or have a Facebook page.